Generally, no. Your borrowing and payment history affect credit much more than your income. For most loans, lenders use the traditional FICO credit scoring model, which ignores your income.
However, lenders sometimes ask about your income. Why? They may have their own credit scoring models that are different from the basic FICO credit score. In those cases, your income may affect credit - so a higher income can come in handy.In addition, lenders want to know how much of your monthly income goes toward debt payments. They may have rules designed to keep your payments below a certain percentage of your income.
To learn what's really important, find out how credit works:Return to the main page on factors that affect credit.
